February 4, 2020 Comments Off on JLL Arranges $30M Construction Loan for Seattle’s Queen Anne Development Views: 542 Seattle & Pacific Northwest News, Seattle News, Top Seattle

JLL Arranges $30M Construction Loan for Seattle’s Queen Anne Development

JLL Capital Markets arranged $30 million for the development of Roystone, a 93-unit, boutique multi-housing project with ground-floor retail in Seattle’s desirable Lower Queen Anne neighborhood. JLL worked on behalf of Seattle-based Vibrant Cities to secure the construction financing through First Interstate Bank.

Due for completion in fall 2021, the eight-story building will include luxury residences with underground parking and a rooftop deck offering views of downtown Seattle, the Space Needle and Elliott Bay. The project will also feature small-scale, street-level retail totaling 3,814 square feet that will contribute to the neighborhood’s pedestrian-friendly character. Amenities will include a lobby-level resident lounge, fitness room and clubhouse.

Vibrant Cities’ Pui Leung notes, “… this project will be the first eight-story apartment community built under Seattle’s up-zoned code in Queen Anne, one of city’s most desirable neighborhoods.”

JLL’s debt placement team representing Vibrant Cities was led by Brandon Roth, Zack Goodwin and Matt Pelpel.

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